ServiceTitan Acquires Convex to Supercharge Commercial Capabilities

For years, ServiceTitan and Convex have independently built best-in-class software for commercial contractors, with a deep focus on driving ROI and positive business outcomes for their customers. 

Today, those two companies have joined forces.

ServiceTitan has entered into a definitive agreement to acquire Convex, a leading sales and marketing platform built specifically for the commercial services industry. 

This new partnership will help deliver an industry-leading end-to-end solution that enables commercial service businesses to grow profitably, from initial outreach to new prospects, through work order execution, invoicing, job costing, and everything in between.

“ServiceTitan is on a mission to build technology that significantly improves the lives of every single contractor,” said Ara Mahdessian, CEO and co-founder of ServiceTitan. “We are laser focused on delivering high ROI, purpose-built software for the commercial services industry. 

“Commercial businesses deserve a platform that works as hard as they do — a platform that can help them operate and enable profitable growth for decades to come. I’m thrilled to welcome Convex to the ServiceTitan family as we collectively join forces to continue executing on this ambitious vision.”

Founded in 2017, Convex was built to modernize the commercial services industry with data-driven solutions that increase revenue for contractors by improving their go-to-market strategies and execution.

Convex’s purpose-built platform allows commercial businesses to:

  • Plan their growth strategies with one of the most comprehensive views of the market available, including property, contact, business, and permit data
  • Target high-value opportunities to identify new business and expand existing relationships
  • Engage customers at the right time, with the right messaging to win their business
  • Manage revenue teams to drive both consistent and predictable growth

“Our mission at Convex is to provide commercial services businesses with the tools and technology they need to win their market,” said Charlie Warren, CEO and cofounder of Convex. “ServiceTitan and Convex have both been battle tested, empowering contractors to succeed even amidst a challenging labor market.

“Together, our companies can deliver an unparalleled end-to-end customer experience in the commercial market. I look forward to partnering with Ara and (ServiceTitan co-founder) Vahe (Kuzoyan) as we embark on this new chapter to collectively enable commercial businesses to achieve their goals.”

Last year, ServiceTitan released a definitive market report on the Commercial Service Industry, providing insight into the challenges and opportunities facing the Commercial Services industry, as well as the strategies that businesses are employing by leveraging digital tools to stay competitive. 

The report found that out of more than 1,000 commercial contractors surveyed, 70% did not see an increase in revenue, and 39% suffered a decrease in their revenue. However, in 2023 Convex helped its customers drive nearly $1.5 billion in incremental growth, and an estimated $3 billion in revenue. 

Convex customers also experience a 9x median ROI in year one on average, with the software paying itself back in days, not months.* Together, ServiceTitan and Convex are excited to invest in making the Convex platform even better, creating greater value and ROI for commercial contractors.

To ensure a seamless transition and integration of the Convex platform, Charlie Warren will continue serving as Convex CEO, and co-founder Blake Meulmester will continue leading Convex’s product, driving forward the joint mission of bringing revenue generation capabilities to all commercial services businesses across the industry.

ServiceTitan’s acquisition of Convex is subject to the satisfaction or waiver of certain closing conditions contained in the definitive agreement.

* Estimates assume a lifetime Value (LTV) retention rate of 95% and 45% margin.

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